BUISENESS MANAGEMENT
BUSINESS PLANNING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Product innovation
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Targeted promotional sales
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Total quality management
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Setting operational objectives
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Detailed explanation-1: -The four growth strategies These are Product, Placement, Promotion and Price. Where the Four Ps focus on audiences, channels & pricing, the Ansoff Matrix is more effective for a broader view of markets and uses the older Four P framework within each of the 4 Ansoff quadrants.
Detailed explanation-2: -There are three competitive strategies that you can implement across your business: Cost-leadership strategies, differentiation strategies, and focus strategies.
Detailed explanation-3: -Planning for Long Term Business Growth The more common ways of growth are ways like widening your line of products/ services, expanding the business into overseas markets, strengthening competitive advantages, and exploring untapped potential. All these are great way of building business growth.